Cabinet clears ₹84,084 crore offshore exploration scheme ‘Samudra Manthan’
The Union Cabinet has approved ₹84,084 crore for an offshore exploration scheme named ‘Samudra Manthan’. Of this, ₹43,200 crore has been allocated for drilling 60 deepwater exploration wells. The scheme aims to boost India’s domestic hydrocarbon exploration in offshore and deepwater blocks, reducing import dependence and expanding upstream energy capacity.
Nabka Insight
A large capital push for India’s deepwater hydrocarbon exploration.
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- Cabinet outlay of ₹84,084 crore
- Offshore exploration scheme ‘Samudra Manthan’
- ₹43,200 crore earmarked for drilling
- Targets 60 deepwater exploration wells
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